Canaccord downgrades Helen of Troy on uncertainty after miss

As previously reported, Canaccord downgraded Helen of Troy (HELE) to Hold from Buy with a price target of $26, down from $47. The company’s Q2 results “significantly missed expectations” as trends were worse than expected, the analyst tells investors in a research note. The firm sees continued uncertainty and slower than anticipated progress in Helen of Troy’s ability to stabilize trends. The company has made minimal progress on offsetting tariffs and is being pressured from weaker discretionary spending, contends Canaccord. Helen of Troy shares are down 3% to $23.20 in late morning trading.